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Hot Stock Malton falls on Shah Alam land deal termination
by Cals Fri 13 Mar 2015, 16:28
Hot Stock
Malton falls on Shah Alam land deal termination
By Supriya Surendran / theedgemarkets.com | March 13, 2015 : 12:01 PM MYT
KUALA LUMPUR (Mar 13): Property developer [size=14]Malton Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) fell as much as 1.5 sen or 2% to 84.5 sen on news its RM83.67 million Shah Alam land disposal deal with buyer Hedgeford Ventures Sdn Bhdhad been terminated.
The sale and purchase agreement (SPA) involved a 4.8ha (12 acre) leasehold industrial tract in Kampung Melayu Subang in Shah Alam, Selangor. At 11.12am, Malton (fundamental: 1.10; valuation: 1.8) saw 187,000 shares changing hands.
Malton’s share trade had resumed after being suspended from 9am to 10am today in conjunction with the announcement.
Malton told the exchange today Hedgeford had yesterday informed its wholly-owned unit Rentak Sejati Sdn Bhdof Hedgeford's intention to terminate the SPA.
This followed Hedgeford's rejection of Rentak Sejati's request for a further time extension to fully comply with the conditions under the SPA. As such, the SPA had lapsed, Malton said.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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Malton falls on Shah Alam land deal termination
By Supriya Surendran / theedgemarkets.com | March 13, 2015 : 12:01 PM MYT
KUALA LUMPUR (Mar 13): Property developer [size=14]Malton Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) fell as much as 1.5 sen or 2% to 84.5 sen on news its RM83.67 million Shah Alam land disposal deal with buyer Hedgeford Ventures Sdn Bhdhad been terminated.
The sale and purchase agreement (SPA) involved a 4.8ha (12 acre) leasehold industrial tract in Kampung Melayu Subang in Shah Alam, Selangor. At 11.12am, Malton (fundamental: 1.10; valuation: 1.8) saw 187,000 shares changing hands.
Malton’s share trade had resumed after being suspended from 9am to 10am today in conjunction with the announcement.
Malton told the exchange today Hedgeford had yesterday informed its wholly-owned unit Rentak Sejati Sdn Bhdof Hedgeford's intention to terminate the SPA.
This followed Hedgeford's rejection of Rentak Sejati's request for a further time extension to fully comply with the conditions under the SPA. As such, the SPA had lapsed, Malton said.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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